Kona I Finalized Acquisition of Card Maker PSC
The firm completed its purchase of the card manufacturer on September 1, 2026, to bolster U.S. operations.
Updated on Oct. 2, 2026 in Business Strategy
Live Poll
Do you trust foreign fintech firms to manage critical local banking infrastructure in your area?
Kona I officially acquired card manufacturer PSC on September 1, 2026, following an investment strategy aimed at expanding its footprint in the United States. The company utilized a newly formed holding entity to complete the transaction.
Why it matters
This move allows Kona I to gain direct access to U.S. local customers, specifically targeting small and mid-sized banks that require local networks for their business operations. By inheriting local expertise from PSC, the company intends to strengthen its competitive position in the American market.
Kona I invested a total of $22 million, or 30.3 billion Korean won, into its Kona America Holdings entity. Approximately $20.1 million of those funds were deployed specifically to acquire the shares of PSC.
The players
Kona I
Kona I is an international company that provides smart card and payment solution technologies to various global financial sectors.
PSC
PSC is a specialized card manufacturing firm that provides critical production services to banks and financial institutions.
Kona America Holdings
Kona America Holdings is the U.S.-based subsidiary established by Kona I to manage its domestic operations and strategic acquisitions.
The details
Kona I established Kona America Holdings as a U.S. subsidiary to facilitate the acquisition and manage ongoing operations. The firm plans to continue the business by integrating existing PSC expertise into its regional strategy.
Timeline
Kona I announced the acquisition plan and paid the final costs on September 1, 2026.
The completion of the acquisition was publicly announced on October 2, 2026.
Market Landscape
This acquisition fits into the broader consolidation trend in the financial technology sector as global firms seek to capture share in the U.S. banking market. By acquiring a local manufacturer, Kona I directly positions itself against established domestic providers of payment infrastructure.
Small and mid-sized banks in the United States may see changes in card production availability or service terms as Kona I integrates its new assets. These businesses should monitor potential updates to their existing network access and vendor support agreements.
The takeaway
Kona I is betting that local manufacturing expertise will be the key to winning over smaller U.S. financial institutions. Companies looking to enter the American market increasingly rely on these acquisitions to bypass entry barriers and build immediate trust with local customers.
Further reading
For more context on corporate expansion in this sector, visit the Business Strategy section.
Source note: This article includes information reported by 조선일보.
Live Poll
Do you trust foreign fintech firms to manage critical local banking infrastructure in your area?
